February 6, 2020 / 11:30 PM / 15 days ago

National Oilwell Varco reports quarterly loss

Feb 6 (Reuters) - National Oilwell Varco reported a quarterly loss on Thursday, as the oilfield services provider took impairment and restructuring charges due to decline in U.S. drilling activity and its measures to cut costs.

Net attributable loss to company was $385 million, or $1.01 per share for the fourth quarter ended Dec. 31, compared to a profit of $12 million, or 3 cents per share, a year earlier.

The company recognized $537 million in impairment and restructuring charges. (Reporting by Arunima Kumar in Bengaluru; Editing by Vinay Dwivedi)

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